Hong Kong Stocks Rise Third Day as China Manufacturing Expands
Hong Kong stocks rose, with the city’s benchmark index heading for a three-day gain, after China’s manufacturing rose to the highest level in seven months, adding to signs the world’s second-largest economy is recovering.
China Shanshui Cement Group led makers of the material higher. China Resources Land Ltd. led gains among developers after announcing it will buy 55 per cent of a project from its parent with cash. Metallurgical Corporation of China Ltd. climbed 2.9 per cent after winning a land bid in Nanjing. The Hang Seng Index gained 0.6 per cent to 22,153.25 in early trade.